Allergan buys Kythera and its double-chin drug for $2.1bn

Dublin, Ireland-based Allergan is snapping up US group Kythera Biopharmaceuticals for a cool $2.1 billion, strengthening the firm’s foothold on the facial aesthetics scene.

The move gives Allergan access to Kythera’s lead product Kybella (deoxycholic acid) injection, the first and only approved non-surgical treatment for double chin (or severe submental fullness), which gained US clearance in April.

The acquisition will also bring setipiprant (KYTH-105) - a novel compound for the prevention of male pattern baldness - into Allergan’s pipeline, as well as a batch of other early-stage development candidates.

Under the deal, which remains subject to customary closing conditions, the Irish drugmaker will pay $75 per Kythera share in a mix of cash and stock, valuing the transaction at around $2.1 billion.